Innovative new models made possible by blockchain
Subscribe to our smart subscription to read this report in full
NFTs transform the gaming economy by tokenising elements in games. Each NFT is unique and verifiable on the blockchain, offering true digital ownership. In The Sandbox, land and objects are NFTs. Players can buy, sell or rent these lands to create experiences. These digital assets have real market value, giving video games an unprecedented economic dimension.
The "play-to-earn" model disrupts gaming by allowing players to be paid for their in-game actions. Unlike the free-to-play model, where most of the money flows from the player to the developer and publisher, play-to-earn actively rewards participation. In Axie Infinity, players raise and fight creatures called "Axies". By winning battles or breeding their Axies, they earn tokens that have real value and can be traded on crypto markets. In this way, gaming becomes a potentially lucrative activity.
Token-based access in gaming means that certain features or areas are reserved for holders of specific tokens. These tokens can represent an entry fee, membership or privileged status. For example, in Neon District, a cyberpunk RPG, specific areas or missions might require the possession of certain tokens to access them.
Inter-game collaboration allows the assets of one game to be used or enhanced in another, fostering a shared ecosystem between games. For example, the Enjin platform allows developers to create objects in the form of NFTs that can be used in several games. So a sword acquired in one game could be used in another. CryptoKitties and Decentraland have collaborated so that NFT kittens can be displayed in Decentraland plots. These collaborations reinforce the player's investment, extending the reach and value of the digital assets acquired.
Monetisation of content creation:
Monetisation of content creation in gaming rewards players for their creative contributions within the game. In The Sandbox, users can design elements, such as skins or items, and sell them on the market. This type of mechanism already exists in games that do not use blockchain (Minecraft or Roblox), but the items do not belong to the players. These models value players' creativity, transforming the passive gaming experience into an entrepreneurial opportunity.